ECB’s Lagarde: Supply bottlenecks to last into 2022
European Central Bank (ECB) President Christine Lagarde stated on Monday that global supply bottlenecks may last into early 2022.
Lagarde mentioned the supply bottlenecks as one of the main temporary factors contributing to the rise in inflation, alongside the uptick in demand caused by the pandemic recovery. Moreover, she said that the central bank is monitoring the bottlenecks and noted that if they persisted into late 2022 then they could give rise to higher inflationary levels over a longer period of time.
Lastly, Lagarde stated that there is currently higher-than-expected goods and services inflation brought on by the reopening of the global economy.
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